6 Tips To Get The Best Credit Card

  Author: Naveen Kumar

Are you dealing with a deluge of credit card offers and wondering how to compare different credit cards? Some may have a lower interest rate; some may not have an annual fee, while others may be offering more reward points. How do you select the credit card that is right for you? We tell you 6 things to look for in a credit card to make the right decision.

Compare interest rate, joining and annual fee One of the first things to do while comparing credit cards is to compare their interest rates. If you revolve the credit i.e. don’t make the outstanding credit card payment by the due date, the outstanding amount will be charged with interest according to this rate. Lower the rate, the better it is for you.

If you expect limited monthly usage, opt for a credit card with no joining or annual fees. However, if you expect higher monthly spends, joining and annual fees wouldn’t hurt. Most of the credit cards would refund them based on high usage.

Interest free EMI option Most of the prominent credit cards offer interest-free EMI (equated monthly installment) conversion option on purchase of electronic goods or travel bookings. So, if you anticipate such purchases with your card, consider a card with maximum number of EMI options. This includes any option for interest-free EMI converting the outstanding balance on credit cards.

Superior rewards programme Go for a credit card that will reward you for the purchases you will make with the credit card. You will then get maximum reward points which you can then use in the future for your future spends. Thus, if you are a frequent flier, look for reward miles tied up with the airline of your choice. If you frequently eat out or go for movies, find a card that rewards you for it.

Useful offers and tie ups Different cards have tie ups with different companies for offers and discounts for their customers. Spot the card with maximum offers and tie-ups with your preferred brands. This will ensure that you make the most of the credit card usage.

 Ease of credit card payment Ensure that your credit card offers the most number of payment options like cheque, cash, mobile and online payment so that you can manage your credit card bill payment with ease.

Customer service quality Go for online reviews of customer service quality of the credit cards you have shortlisted. Based on your assessment of customer feedback, opt for the most customer friendly credit card company.

A credit card can come in very handy if used wisely.  Keeping these points in mind will help you choose the card that is just right for you.

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